What constitutes a waiver of the Floyds 99 Franchisor's right of first refusal?

According to the 2025 Floyds 99 Franchise Disclosure Document, the franchisor's right of first refusal is waived if the franchisor does not respond to the developer's notice of a proposed sale within a 90-day period. This means that if a developer (franchisee) intends to sell their rights, interest, or assets related to a Floyds 99 shop, they must notify the franchisor of the proposed sale. The franchisor then has 90 days to decide whether to exercise their right to purchase the business on the same terms offered by the third-party buyer.

This 90-day period runs concurrently with the time Floyds 99 has to approve or disapprove the proposed transfer. If Floyds 99 fails to respond within this timeframe, it is considered a waiver of their right of first refusal, and the developer is free to proceed with the sale to the third party, provided they comply with other transfer requirements outlined in the franchise agreement.

This provision protects the franchisee by setting a clear deadline for the franchisor's decision. Without such a clause, the sale could be delayed indefinitely, potentially causing financial harm to the franchisee. It's a fairly standard clause in franchise agreements to ensure timely decisions regarding the transfer of ownership.